Jack Ma, founder of Alibaba Group, has suffered a lot of bad luck since he was interviewed by four departments of the Communist Party of China (CPC). In addition to the suspension of the listing of ants and the collective pursuit of Taobao.com by state media, the stock purchase cases of three enterprises including Alibaba Investment were also punished by the top penalty on June 14.
Market supervision administration of the communist party of China’s official website announced on December 14, on alibaba acquired Yintai commercial (group) co., LTD., reading group, to acquire new beautiful media holdings co., LTD., shenzhen abundant nest network technology co., LTD to acquire mailed in wisdom handed technology co., LTD., etc., 3 and not in accordance with the declaration of “concentration” case law were investigated.
Under the anti-monopoly law, the State Administration for Market Regulation imposed administrative penalties of 500,000 yuan on Alibaba Investments, Tencent’s China Literature Group, and SF Express affiliate Shenzhen Fengchao Network Technology Co., LTD.
Market supervision administration of the anti-monopoly bureau chief, said the penalty of three companies in the industry has a greater influence, after the completion of the acquisition of alibaba investment, read article belong nest network control achieved respectively, belongs to the concentration of “anti-monopoly law” provisions, but before the implementation of centralized, neither for operators of centralized declaration in accordance with the law.
“This is the first time that the State Administration for Market Regulation has imposed centralized administrative punishment on companies involved in” agreement control structure “, which is of great significance to regulating such behavior, “said the official.” It will send a signal to the public to strengthen anti-monopoly supervision in the Internet field, and dispel the fluke and wait-and-see mentality that some companies may have.”
Alibaba’s recent history is full of pitfalls. On November 2, Ma Yun, four major shareholders of Alibaba affiliate Ant Financial, and others were interviewed by four major Chinese Communist Party regulators. The next day, plans to go public were halted.
On the eve of the “Double 11 online Shopping Festival”, Alibaba’s Taobao was targeted by state media to crack down on counterfeiters. Communist Party regulators also held a special meeting to stress that online platforms are not outside the law for antitrust. Then, on November 10, the State Administration for Market Regulation of the Communist Party of China (CPC) released a “draft Antitrust guidance on the platform economy”.
On November 24, sources told Watching China that Ma was temporarily under border control. Sources believe that Ma’s crisis will not be solved simply by money, and ma has really annoyed Xi Jinping.
On Dec. 11, the Political Bureau of the Communist Party of China said it would continue to strengthen antitrust and prevent disorderly capital expansion when analyzing economic work for 2021. The acquisition case that follows Ali investment is punished again. There are signs that things are not going well for Mr Ma.
Reuters quoted sources as saying that Ma’s outspoken remarks at the second Bund Financial Summit in Shanghai on October 24 caused the disaster. At the time, Mr Ma criticised the communist party’s regulatory system for stifling innovation and derided banks as still a “pawnshop idea”. Vice Chairman Wang Qishan just stressed the need to strengthen supervision in his speech.
According to the report, the party’s financial, regulatory and government bigwig at the meeting thought Mr. Ma was’ punching them in the face. ‘ Later, Ma was interviewed by four major regulatory authorities.
The General Office of the State Council compiled a public opinion report on Ma’s speech and submitted it to Xi jinping and other top leaders, who ordered a thorough investigation of the ants’ business activities, the report said, citing sources.
Liu Renshao, a Hong Kong times commentator, told Voice of Hope that Mr Xi’s main reason for stopping the listing was fear of taking advantage of the opportunity to remove the funds, as well as to clean up the “relatives and relatives” behind them.
Mainland financial media reported that many shareholders of Ant Financial pointed to The boyu capital owned by Jiang Zhicheng, grandson of Jiang Zemin. Jiang’s heavy involvement in Ant Financial upset Xi, who vowed to do more to rectify the situation.
Media reports in the early years revealed that The shareholders of Alibaba founded by Ma also included Bill Kong, Liu Lefei, son of former Politburo member Liu Yunshan, and others.
The source said that the current situation is not ma come forward to solve, but a new round of political game.
Commentator Dr. Wang Youqun analyzed that the 2015 mainland stock market crash was regarded as a “financial coup” by Jiang Zeng forces. After the stock market crash, Xi Jinping has not touched Ma. Mr Ma is unusually high-profile this time. This probably reminded Mr Xi of the financial coup and led to a multi-pronged purge of Mr Ma. In fact, xijiang is also white-hot infighting.
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